Interest rates have risen about an eighth of a percent in the last week. Wat interest rate a buyer would get if they would have locked a rate today and he said it would be around 4.875%. That is up from about 4.75% the week before.
We have seen the lows and that rates could be around 6% at the by the end of the year.
Either rate does not sound high (4.875% or 6%) to me. In fact, in my opinion, any rate below 8% is a low rate. Obviously, I like them as low as possible since it helps buyers to purchase more of a home and sellers to get sold. Here is the moral of this blog post, if you are thinking about buying, now is a great time to make you loan application, get pre-approved and buy they home you have been dreaming about.